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On today’s episode of Market Domination Overtime, hosts Josh Lipton and Seana Smith analyze the market close and some of the biggest stories from the trading day.
US stocks (^DJI, ^IXIC, ^GSPC) ended Tuesday’s session in positive territory, with the Dow Jones Industrial Average achieving a new all-time high for the second day in a row.
Charles Schwab chief investment strategist Liz Ann Sonders explains that the market’s sky-high valuations are improving, largely due to the recent pullback. “We did see a little bit of an easing in some of those mega-cap names. But we’re still in the high 20s [percent] for the Magnificent Seven. So you are at that point, especially given we’ve seen some deterioration in third quarter consensus estimates relative to second quarter, that we are a bit in that show-me environment because of valuation expansion that predated this recent pullback.”
Josh Lipton and Seana Smith break down what to watch on Wednesday, August 28th, from Nvidia’s (NVDA) second quarter earnings to commentary from Atlanta Fed President Raphael Bostic and Fed Governor Christopher Waller.
Yahoo Finance markets and data reporter Jared Blikre breaks down his top takeaways from the trading day as the US dollar (DX-Y.NYB) fell to the Rubicon and central banks continue buying up gold (GC=F).
Shares of organic food brand Hain Celestial (HAIN) surged after reporting fiscal fourth quarter earnings results, beating its adjusted earnings per share estimates. Hain Celestial CEO Wendy Davidson argues that “the trends are in our favor” as consumers seek out healthier food options: “We think we have a great brand portfolio that offers variety, offers multiple pack sizes. Our goal is to make it both available and affordable so that healthier living doesn’t have to mean sacrificing taste or availability or affordability. And that’s been the big focus for Hain in our in our transformation.”
This post was written by Melanie Riehl
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